FREMONT, Calif., March 9, 2021 /PRNewswire/ — Privacera, the cloud data governance and security leader founded by the creators of Apache Ranger™, today announced that it has secured $50 million in funding to meet the unprecedented demand for its cloud-based data governance and security solution. Led by new investor Insight Partners and with participation from Sapphire Ventures, Battery Ventures, and existing investors Accel, Cervin, and Point 72, the Series B will be used to fast-track its go-to-market strategy and further extend Privacera's investment in its unified system for data governance and privacy across multiple cloud services such as Databricks and Snowflake. Following closely on the heels of its successful Series A, this latest round further indicates the company's explosive growth in both revenue and customer acquisitions.
"Robust and scalable Data Governance has become a foundational layer of the modern application stack and frictionless data access to developers and data scientists is a mission critical requirement today," said Praveen Akkiraju, Managing Director at Insight Partners and Privacera's latest board member. "Even as infrastructure moves into the cloud, users become more distributed and compliance standards become more stringent. The team at Privacera bring a phenomenal combination of technical depth and understanding of the customer requirement to enable a single pane of glass for data governance and compliance. Privacera's leadership in the industry was validated in our numerous customer and developer conversations and we are excited to be part of Privacera's ScaleUp journey."
Integrating privacy and compliance has become a table stake for organizations looking to migrate enterprise data to the cloud to drive data analytics. With a 2.5X ARR growth in 2020 and with numerous Fortune 500 companies as customers, Privacera was recently named an Enterprise Tech 30 by Wing Ventures where they were recognized as an elite group of companies who have the most potential to tectonically shift how enterprises operate for the better.
"We are a cloud-first company and needed a way to automate compliance processes for LGPD, the Brazilian equivalent to GDPR. We use PrivaceraCloud to enforce data access controls in Databricks and AWS and encrypt sensitive data at the attribute level to be able to share data with data science and analytics teams," said Pedro Teixeira, Data Platform Tech Lead, iFood. "Privacera's SaaS offering accelerated deployment and provided comprehensive support of iFood's Databricks environment without requiring changes to existing code when connecting to AWS S3 buckets."
To further meet the needs of its diverse customer base, Privacera has partnered with the industry's leading technology and service solution providers to ensure enterprises have automated, consistent governance, and compliance across their entire IT infrastructures. Privacera is credited with providing automated detection of sensitive data, unified access control and seamless encryption across dozens of cloud and analytical service leaders such as AWS, Azure, Databricks, Google Cloud and Snowflake.
"Having pioneered the industry's first SaaS-based data governance and security solution capable of integrating privacy and compliance across multiple cloud services, we help organizations use data effectively and responsibly, so they remain compliant with an ever-growing number of regulations," said Balaji Ganesan, CEO, Privacera. "The latest investment from Insight Partners, Sapphire Ventures, Battery Ventures, and earlier investors, will ensure we continue to deliver on our mission of accelerating data democratization by enabling IT and data teams to easily empower analytical teams with the data they need."
Tweet this: News: #datagovernance and #datasecurity leader @Privacera raises $50M in #SeriesB funding led by @InsightPartners – enables instant #dataaccess policies across multiple #cloud services
Privacera's SaaS-based data security and governance platform enables analytics teams to access data without compromising compliance with regulations such as GDPR, CCPA, LGPD, and HIPAA. Privacera provides a single pane of glass for securing sensitive data across multiple cloud services such as AWS, Azure, Databricks, GCP and Snowflake. Privacera's platform is utilized by Fortune 500 customers across finance, insurance, retail, media, and consumer industries to automate sensitive data discovery and easily manage high-fidelity policy management at petabyte scale on-prem and in the cloud. Headquartered in Fremont, California, Privacera was founded in 2016 by the creators of Apache Ranger™ and Apache Atlas™. Visit www.privacera.com or follow @Privacera on LinkedIn and Twitter.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.